Ghassan Aboud lists trophy hotel
Syrian billionaire Ghassan Aboud has listed one of Brisbane’s most distinctive luxury hotels after five and a half years.
The Crystalbrook Vincent at Howard Smith Wharves is expected to sell for more than $90 million, sources say.
Via Crystalbrook Collection, he paid $75m to the developer, the Deague Group.
Then known as the Fantauzzo Art Series Hotel, it opened in 2019.
Colliers’ Karen Wales and Simon Beirne are the agents.
The listing comes 10 months since we reported Mr Aboud began constructing Canberra’s first Crystalbrook.
Four years ago meanwhile, the company bought the Sydney Rydges.
The executive’s local portfolio also includes the Byron at Byron Resort & Spa, acquired in 2018 from Gerry Harvey (continues below).
Trophy Hotel
At 5 Boundary Street, beneath the Story Bridge and abutting Brisbane River, the Crystalbrook Vincent contains 166 rooms, up to 73 square metres, rated five star.
The property includes works from acclaimed artist Vincent Fantauzzo.
There are three retail tenancies too including restaurants leased to Fiume and Mews
There is also a gym and rooftop magnesium pool.
Ms Wales said the property has delivered robust trading performance, supported by resilient leisure demand, premium average daily rates and a growing corporate market.
Subscribe to our newsletter at the bottom of this page.
